Dark economic clouds gather for eurozone, US, and Britain

With economic activity weakening, concerns are growing that soaring inflation and war in Ukraine will tip the world into recession

Japanese output shrank as a resurgence in Covid-19 cases further depressed demand that was already struggling under the weight of surging inflation. 

Economic activity weakened from the US to Europe and Asia, reinforcing concerns that soaring prices and the war in Ukraine will tip the world into a recession.

US business activity contracted for a second-straight month in August, falling to the weakest level since May 2020, S&P Global data showed.